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Cathie Wood Rebuys Robinhood 9 Days After Selling, Adds $3.5M

OdailyOdaily

Odaily News: Cathie Wood has repurchased Robinhood shares after a 9-day hiatus, adding 28,589 shares worth approximately $3.5 million through the ARK Innovation ETF on September 4, following a reduction of 25,009 shares on August 26.

Robinhood has been performing strongly recently, with its stock price rising over 30% in the past month, while Bitcoin gained about 23% during the same period, approaching $80,000. On September 4, Deutsche Bank raised its price target from $115 to $136, maintaining a "Buy" rating, citing the explosive growth in fee revenue from Robinhood Chain—daily revenue jumped from under $200,000 in mid-August to over $3 million in early September. Deutsche Bank expects the annualized run rate to exceed $100 million.

As of September 4, HOOD has become the seventh-largest holding in the ARK Innovation ETF, with a weight of 4.28%. During the same period, Wood also bought Veracyte, Intellia Therapeutics, and the 3iQ Solana Staking ETF, while reducing positions in Tempus AI and Twist Bioscience. (Thestreet)

This content is for informational and educational purposes only and does not constitute investment advice related to BTCC. BTCC makes every effort but cannot guarantee the truthfulness, accuracy, or originality of the content above.